Tidewater (NYSE:TDW) Lowered to “In-Line” Rating by Evercore ISI

Evercore ISI cut shares of Tidewater (NYSE:TDW) from an outperform rating to an in-line rating in a research note issued to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has $68.00 target price on the oil and gas company’s stock, down from their prior target price of $112.00.

A number of other research analysts also recently issued reports on TDW. DNB Markets assumed coverage on Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price target on the stock. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Raymond James downgraded Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.60.

Tidewater Trading Up 3.3 %

NYSE TDW opened at $56.47 on Wednesday. Tidewater has a 12 month low of $46.50 and a 12 month high of $111.42. The stock has a market cap of $2.95 billion, a P/E ratio of 16.61 and a beta of 1.06. The stock’s fifty day moving average price is $52.21 and its 200-day moving average price is $70.75. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling at Tidewater

In other news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now owns 176,239 shares in the company, valued at $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in shares of Tidewater by 1.9% in the third quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock worth $134,044,000 after buying an additional 35,318 shares during the period. Geode Capital Management LLC raised its stake in shares of Tidewater by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after buying an additional 5,713 shares during the period. Van ECK Associates Corp bought a new position in shares of Tidewater in the third quarter worth about $51,089,000. Hsbc Holdings PLC raised its stake in shares of Tidewater by 11,317.3% in the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after buying an additional 639,765 shares during the period. Finally, Cerity Partners LLC raised its stake in shares of Tidewater by 173.4% in the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after buying an additional 385,779 shares during the period. Institutional investors own 95.13% of the company’s stock.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.